The Chancellor’s Faculty Fellowship is a professional development opportunity awarded each year to three outstanding VCCS faculty who wish to pursue senior leadership or advanced study in a teaching discipline. The award provides up to one year of leave of absence at three-quarters salary and a $12,500 grant towards full-time study at six designated Virginia universities: (1) the Curry School of Education at the University of Virginia; (2) the Community College Program Area at Virginia Tech; (3) the National Center for Community College Education at George Mason; (4) School of Education at the College of William and Mary; (5) Virginia Commonwealth University; and (6) Old Dominion University. Additionally, recipients may choose to attend other institutions with an award of $7500.

To be eligible, faculty must be full-time teaching, administrative, and professional faculty with unrestricted rank and salary proposals, a minimum of three years of Virginia Community College System (VCCS) service and who are recommended by the president of the employing institution or by the Chancellor (for a System Office faculty member). Individuals selected as Chancellor's Faculty Fellows shall be required to resume their employment with the VCCS for a period of at least twice the length of their fellowship (up to two years) following the completion of either the leave period or doctoral degree requirements. The recipient shall be expected to sign a Memorandum of Agreement and a Promissory Note, both of which are issued by the System Office.

Application for the Chancellor's Faculty Fellowship, including letters of endorsement and other supporting materials, must be submitted to the VCCS Director of Professional Development by 5:00 p.m. on February 1 of each year; the deadline date is the same every year. If the due date falls on a weekend, then the following Monday will serve as the due date. Application forms may be obtained from the VCCS Office of Professional Development. Application forms for the institutions of higher education must be obtained from the universities themselves.